Q2 2026 Deutsche Bank AG Earnings Call Transcript
Key Points
- Deutsche Bank AG (DB) reported a record post-tax profit of EUR 4.1 billion for the first half of 2026, the highest ever for a half-year.
- The bank's revenue grew to EUR 17.2 billion, with a strong contribution from the Investment Bank and focused growth areas.
- Assets under management increased by nearly EUR 270 billion year-on-year, supported by record inflows of EUR 56 billion across private bank and asset management.
- Deutsche Bank AG (DB) announced a new EUR 500 million share buyback from 2026 net income, indicating strong earnings momentum and confidence.
- The bank's CET1 capital ratio was 13.9%, in line with its operating range, supported by strong organic capital generation.
- The cost-to-income ratio, although improved, still stands at 60.9%, indicating room for further efficiency improvements.
- Non-interest expenses increased by 8% year-on-year, reflecting higher fixed pay, performance-related compensation, and costs related to strategic actions.
- Provisions for credit losses were EUR 460 million, with targeted actions to de-risk the portfolio impacting the quarter.
- The bank faces challenges from dynamic market conditions and geopolitical risks, which could impact future performance.
- Despite strong performance, the bank's revenue guidance remains cautious due to potential market volatility and economic uncertainties.
Ladies and gentlemen, I would like to remind you that all participants will be in listen-only mode and the conference is being recorded.
The presentation will be followed by a Q&A session.
You can register for questions at any time by pressing star and 1 on your telephone.
For operator assistance, please press star and 0.
The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Selke Nicole Shipa, Deputy Head of Investor Relations.
Please go ahead.
Thank you for joining us for our second quarter and first half-year 2026 results call.
As usual, our Chief Executive Officer, Christian Seling, will speak first, followed by our Chief Financial Officer, Pajar Account.
The presentation, as always, is available to download in the Investor Relations section of our website at db.com.
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